MetLife INSURANCE (Training Report



In the partial fulfillment of the Degree of Bachelor of Business Administration Session (2008-2011)


Submitted to Dr. Tanushree Chakraborty Professor ISB&M- Kolkata
ISB&M (International School Of Business & Media)

Submitted by Sanu Gupta BBA 5thSemester (2008-2011)



Practical trai i

i an i

rtant part of management courses. Theoretical

studies are not sufficient to get into corporate world and understand the complexities of large-scale organizations. Practical training exposes us to real practices of management in the organization. It also exposes students to the treasures of experience, knowledge and leaning which prerequisites of making a successful career are. I deem it privilege to have undergone this project. I acknowledge that the practical training that I got from this cannot be gained otherwise. I found my project very interesting and challenging.


ISB&M (International School Of Business & Media)




MetLife IN

ANC (Trainin Report



Sanu Gupta

MetLife INSURANC (Trainin Report)
§ ¦



This is to certify that the project report entitled ³The process of recruitment and selection of Life insurance agent´ submitted for the degree of BB for International School of Business & Media, Affiliated to Punjab Technical University. It¶s a bonafied research work carried by me, Sanu Gupta, a student of International School of Business & Media- Kolkata. The assistance and help received during the course of investigation have been fully acknowledged.

Sanu Gupta


ISB&M (International School Of Business & Media)

y Why people are not willing to work as an agent in life insurance sector especially with private companies. Conclusion: In India. the product generated by it is sold and income is generated. Need of the study: The study is undertaken to know how many people are interested to work as life insurance agent in MetLife and their thinking about the MetLife. Insurance is concerned with the protection of economic value of assets.MetLife INSURANC (Trainin Report) © ¨ BRIEF SUMMAR Introduction: A general term Insurance is related to service sector. Objective of the study: y How to recruit agents MetLife. y To understand the process of recruitment and selection of agent in life insurance. 4 ISB&M (International School Of Business & Media) . there is throat cut competition in the market of life insurance that brand service which adopt new strategies for sales. The analysis of MetLife is taken from different sectors. I concluding the whole story it can be said that people are much more aware about the aspects of life insurance and also have knowledge about the role and act of agent but mostly people unwilling to work as life insurance agent and mostly people prefer to work with LIC because it is a semi government corporation. For example in case of a factory or a cow. In this project the Metropolitan Life Insurance Company or MetLife for short is one of the popular sector insurance sectors. For creating strong relationship and for a success full business every insurance company required financial planner. or about private insurance company.

6-16 17-32 Chapter 3 Introduction of Recruitment and Selection Process of Agents 33-50 Chapter 4 Objectives of the Study and Research Methodology 51-53 Chapter 5 Data Presentation and Interpretation 54-59 Chapter 6 Limitations and Findings 60 Chapter 7 Conclusion and Suggestions 61-62 Chapter 8 Bibliography 63 5 ISB&M (International School Of Business & Media) . Chapter 1 Chapter 2 PARTICULARS Industry Profile Company Profile PAGE NO.MetLife INSURANC (Trainin Report)   TABLE OF CONTENTS CHAPTER NO.

MetLife INSURANC (Trainin Report)   INDUSTR PROFILE 6 ISB&M (International School Of Business & Media) .

a substitute is made available. a certain sum if the loss occurs. An epidemic may kill the cow suddenly. There is an adverse or unpleasant situation. The asset would have been created through the efforts of the owner. the asset may get lost earlier. The benefit may be an income or in some other form. it provides comfort and convenience in transportation. None of them will last forever. The asset would have been created through the efforts of the owner. Every asset is expected to last for a certain period of time during which it will provide the benefits. Insurance is a mechanism that helps to reduce the effects of such adverse situations. The planned substitute would not have been ready. the product generated by it is sold an d income is generated. 7 ISB&M (International School Of Business & Media) . would be deprived of the benefits. In the case of a motor car. In that case. There is no direct income. Every asset has a value. the owner and those enjoying the benefits therefore. After that. An accident or some other unfor tunate event may destroy it or make it incapable of giving the benefits. Thus he makes sure that the benefit is not lost. However. There is a life-time for a machine in factory or a cow or a motor car. It promises to pay to the owner or beneficiary of the asset. Both are assets and provide benefits. It is a benefit because it meets some of his needs. the benefit may not be available. because he expects to get some benefits from it.MetLife INSURANC (Trainin Report)   WHAT IS INSURANCE The business of insurance is related to the protection of the ECONOMIC VALUES OF ASSETS. In the case of a factory or a cow. The owner is aware of this and he can so manage his affairs that by the end of that period or life -time. The as set is valuable to the owner.

C. the owners would bear the losses in proportion.2007. so that the loss from any one vessel being lost would be partial and shared. This was followed by the Bharat Insurance co. in case of the shipment being stolen.8. insurance began in 1818 with life insurance being transacted by an English company. did not have the exclusive privilege of doing life insurance business in India. Traders. the Bombay Life (originally called the swadeshi life). whereby. the Oriental Life Insurance Co. After the amendments to the relevant laws in 1999. when life insurance business was nationalized and the life Insurance Corporation of India (LIC) was formed on1st September 1956. the National. the new India and the Jupiter in Mumbai and the Lakshmi in New Delhi. travelling treacherous river rapids would distribute their goods among several vessels. The inhabitants of Rhodes adopted the principle of general average.MetLife INSURANC (Trainin Report)   HISTOR OF INSURANCE y y y Insurance has been known to exist in some form or other since 3000 BC. as the price for writing off the which more than 13000 house were lost. agreed to share the losses to their goods while being carried by ships. and not total.I. were established the cooperative Assurance in Lahore. called the fire office. The United India in Chennai. In India. in 1870 in Mumbai. The great fire of London in 1666. who used to gather in the Lloyd¶s coffee house in London. These were all Indian companies started as a result of the swadeshi movement in the early 1900s. the L. was started in 1680. to take care of the funeral and families of members who died. gave a boost to insurance and the first fire insurance company. would throw away some of the cargo to reduce the weight and restore balance. By 31. the India Mercantile. if loss occurs. The origins of insurance business as in vogue at present. due to jettisoning during distress. Such throwing away is called jettisoning. is traced to the Lloyd¶s Coffee House in London. Later. The Babylonian traders would agree to pay additional sums to lenders. there were 170 companies and 75 provident fund societies transacting life business in India. sixteen new life insurers had been registered and were transacting life insurance business in India. if goods are shipped together. The Chinese traders. By the year 1956. 8 ISB&M (International School Of Business & Media) . (Captains of ships caught in storms. The losses used to occur because of pirates who robbed on the high seas because of bad weather spoiling the goods or sinking the ship. the National Indian and Hindustan Cooperative in Kolkata.) The Greeks had started benevolent societies in the late 7th century AD. in 1896 in Delhi. the Empire of India in 1897 in Mumbai.

Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. on the other hand. LIC Act. LIC formed by an Act of Parliament. 5 Crores from the Government of India. the first general insurance company established in the year 1850 in Calcutta by the British. can trace its roots to the Triton Insurance Company Ltd. y 1938 . with a capital contribution of Rs.The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. y The General insurance business in India.. 1956. 9 ISB&M (International School Of Business & Media) .245 Indian and foreign insurers and provident societies taken over by the central gove rnment and nationalized. y 1928 . viz. y 1956 .The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non -life insurance businesses.MetLife INSURANC (Trainin Report)   HISTOR OF INSURANCE IN INDIA Some of the important milestones in the life insurance business in India are: 1912 .

Insurance encourages and forces thrift: A savings deposit can be too easily withdrawn. (Contd. which gives rise to the necessity for some form of protection against the financial loss arising from death. Easy settlement and protection against creditors: The life assured can name a person or persons to whom the policy moneys would be payable in the event of his death. The latter will be considerably less than the sum assured.MetLife INSURANC (Trainin Report) ! LIFE INSURANCE A BASIC NEED Life insurance is a contract providing for payment of a sum of money to the person assured or. Few Advantages of Life Insurance. in effect brings about compulsory saving. Uncertainty of death is inherent in human life. in stark poverty. In case of death. Many may not be able to resist the temptation of using the balance for some less worthy purpose. if death occurs during early years. A married women¶s property act policy constitutes a trust in favour of the wife and children and no separate assignment is necessary. insurance substitutes this uncertainty by certainty. that family is secure. on the happening of certain event. the payment of life insurance premiums becomes a habit and comes to be viewed with the same seriousness as the payment of interest on a mortgage. It is superior to an ordinary savings plans: This is so because unlike other saving plans. 1. Thus insurance. 3. the full sum assured is made available under a life assurance policy. So long as the he lives and the income is received steadily. 2. but should death suddenly intervene the family may be left in a very difficult situation and sometimes. A family is generally dependent for its food. to the person entitled to receive the same. it affords full protection against risk of death. whereas under other savings schemes the total accumulated savings alone will be available. clothing and shelter on the income brought in at regular intervals by the bread winner of the family. It is this uncertainty that is risk. On the other hand. The claims of the creditors of the life assured by effecting a valid assignment of the policy. The beneficiaries are fully protected from creditors except to the extent of any interest in the policy retained by the assured.) 10 ISB&M (International School Of Business & Media) . failing him. The proceeds of a life insurance policy can be protected against.

These contingencies can be provided against in the case of insurance. When this tax relief is taken into account it will be found that the assured is n effect paying a lower premium for his insurance. 6. The policyholder can arrange that in the in the event of his death the beneficiary should receive. 5. Ready marketability and suitability for quick borrowings: After an initial period. Administering the legacy for beneficiaries: It often happens that a provision which a husband or father has made through insurance is quickly lost through speculative or unwise investment or by unnecessary expenditure on luxuries. Tax relief: For computing income tax (especially in India the Indian income tax act) follows deduction from income tax payable. Alternatively he can tide over a temporary difficulty by taking loan on the sole security of the policy without delay. if the policy holder finds himself unable to continue payment of premiums he can surrender the policy for a cash sum. 11 ISB&M (International School Of Business & Media) .MetLife INSURANC (Trainin Report) # " 4. a certain percentage of a portion of the taxable income of individuals which is diverted to payment of insurance premiums. or (b). Payment of the claim amount by smaller monthly instalments over the selected period followed by a lump sum at the end thereof. instead of a single sum (a). Further a life insurance policy is sometimes acceptable as security for a commercial loan. Payment of the net claim amount by equal instalments over a specified period of years.

No airline would be able to bear such a loss. If a Jumbo Jet with more than 350 passenger¶s crashes. ship sinking. earthquakes. but they are exposed to different kinds of risks like. the loss would run into several Crores of rupees. fi re. Thus. If 100 airline companies flying Jumbo Jets. whenever one of the jumbo jets in the pool crashes. It is unlikely that many Jumbo Jets will crash a t the same time. hailstorms. etc. like this. piracy. if any one of the members suffers a loss. the risk is spread among the community and the likely big impact on one is reduced to smaller manageable impacts on all. burglary. etc. the others will share the loss and make good to the person who lost.MetLife INSURANC (Trainin Report) % $ HOW INSURANCE WORKS The mechanism of insurance is very simple. those owning factories are not exposed to these risks. By this method. insurance is a business µsharing¶. People who are exposed to the same risks come together and agree that. come together into an insurance pool. lightening. All people who send goods by ship are exposed to the same risk related to water damage. made including those exposed to such risks. different kinds of risks can be identified and separate groups. the loss to be borne by each airline would come down to a few Lakhs of rupees. 12 ISB&M (International School Of Business & Media) .

are directly benefited because they are protected from the consequences of the loss that may be caused by the accident or fortuitous event. investments are necessary. Every premium represents a risk that is covered by that premium. In effect. y The very existence of risk that is. therefore. (Contd. uncertainty concerning the future. these vast amounts represent pooling of risks. The funds are collected and held in trust for the benefit of the policy holders. worry and anxiety associated with this future uncertainty and thus encourages free investment of capital in business en terprises and promotes efficient use of existing resources. y The management of insurance companies is required to keep this aspect in mind and make all its de cisions in ways that benefit the community. y The system of insurance provides numerous direct and indirect benefits to the individual and his family as well as to industry and commerce and to the community and the nation as a whole. A life insurance company is a major instrument for the mobilization of savings of people. is a severe handicaps in economic activities. These savings are channelled into investments for economic growth. y An insurance company¶s strength lies in the fact that huge amounts come by way of premiums. This applies also to its investments.) 13 ISB&M (International School Of Business & Media) . Investments are made out of savings. This is why successful insurance companies would not be found investing in speculative ventures. Those who insure. Their investments benefit the society at large. both individuals and corporate. Insurance removes the fear. particularly from the middle and lower income groups. Insurance.MetLife INSURANC (Trainin Report) ' & ROLE OF INSURANCE IN ECONOMIC DEVELOPMENT y For economic development. thus. in a sense protects the capital in industry and releases the capital for further expansion and development of business and industry.

commerce and trade depend entirely on insurance for their operation. No bank or financial institution would advance loans on property unless it is insured against loss or damage by insurable perils. shipping and banking servi ces as earner of foreign exchange to the country. which will attract lower rates of premium and what is more important . y Present day organization of industry. various improvements in the risk. banks and financial institutions lend money to industrial and commercial undertakings only on the basis of the collateral security of insurance.MetLife INSURANC (Trainin Report) y Thus insurance encourages commercial and industrial development and there by contributes to a vigorous economy and increased national productivity. 14 ISB&M (International School Of Business & Media) ) ( . y Insurance ranks with export trade. For example. y The object of these surveys is not only to assess the risk for rating purposes but also to suggest and recommend to the insured. cargo loss prevention. appointment of Watchman. industrial safety and road safety. burglary surveyors make recommendation in regard to security measures such as better locking system. Before acceptance of a risk. etc. Engineering surveys play a most useful part in accident prevention as valuable technical advice is provided in respect of plant and machinery. It helps to earn foreign exchange and represent invisible exports. y Insurers are closely associated with several agencies and institutions engaged in fire loss prevention. insurers arrange survey and inspection of the property to be insured. cargo loss prevention. by qualified engineers and other experts. reduce the loss potential.

No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Registration Number 101 102 103 104 105 106 107 108 109 110 111 113 114 115 116 117 121 122 127 128 130 131 132 133 134 135 136 138 140 Date of Reg.MetLife INSURANC (Trainin Report) LIST OF INSURANCE COMPANIES LISTED IN DIFFERENT YEARS List of Insurance Companies Sl. 23/10/2000 23/10/2000 23/10/2000 15/11/2000 24/11/2000 04/12/2000 10/01/2001 22/01/2001 31/01/2001 12/02/2001 30/03/2001 02/05/2001 02/08/2001 03/08/2001 03/08/2001 06/08/2001 03/01/2002 15/05/2002 06/02/2004 17/11/2005 14/07/2006 03/08/2007 04/09/2007 04/09/2007 16/11/2007 19/12/2007 08/05/2008 27/06/2008 27/06/2008 Name of the Company HDFC Standard Life Insurance Company Limited Royal Sundaram Alliance Insurance Company Limited Reliance General Insurance Company Limited Max New York Life Insurance Company Limited ICICI Prudential Life Insurance Company Limited IFFCO Tokio General Insurance Company Limited Kotak Mahindra Old Mutual Life Insurance Limited TATA AIG General Insurance Company Limited Birla Sun Life Insurance Company Limited Tata AIG Life Insurance Company Limited SBI Life Insurance Company Limited Bajaj Allianz General Insurance Company Limited ING Vysya Life Insurance Company Private Limited ICICI Lombard General Insurance Company Limited Bajaj Allianz Life Insurance Company Limited MetLife India Insurance Company Limited Reliance Life Insurance Company Limited Aviva Life Insurance Company India Private Limited Sahara India Insurance Company Limited Shriram Life Insurance Company Limited Bharti AXA Life Insurance Company Limited Apollo DKV Insurance Company Limited Future Generali India Insurance Company Limited Future Generali India Life Insurance Company Limited Universal Sompo General Insurance Company Limited IDBI Fortis Life Insurance Company Limited Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited Aegon Religare Life Insurance Company Limited DLF Pramerica Life Insurance Company Limited 15 ISB&M (International School Of Business & Media) 1 0 (Contd.) .

15/07/2002 27/08/2002 27/08/2002 27/06/2008 15/12/2008 Name of the Company Cholamandalam General Insurance Company Limited Export Credit Guarantee Corporation Limited HDFC-Chubb General Insurance Company Limited Bharti AXA General Insurance Company Limited Raheja QBE General Insurance Company Limited 16 ISB&M (International School Of Business & Media) . No.MetLife INSURANC (Trainin Report) 3 2 List of General Insurance Companies Sl. 1 2 3 4 5 Registration Number 123 124 125 139 141 Date of Reg.

MetLife INSURANC (Trainin Report) 5 4 COMPANY PROFILE 17 ISB&M (International School Of Business & Media) .

though it retains some executive offices and its board room in the MetLife Building. The company is headquartered at 1095 Avenue of the Americas in Midtown Manhattan. 18 ISB&M (International School Of Business & Media) . New York City. 1868. For more information. The MetLife companies offer life insurance. is the holding corporation for the Metropolitan Life Insurance Company or MetLife for short. For most of its life the company was a mutual organization. auto and home insurance. A leader in savings and retirement products and services for individuals.3 trillion of life insurance in force. annuities. please visit www. MetLife. retail banking and other financial services to individuals. small business.MetLife INSURANC (Trainin Report) 7 6 INTRODUCTION OF METLIFE INC. as well as group insurance and retirement & savings products and services to corporations and other institutions. with more than $ and large institutions. which it sold in 2005. but it went public in 2000. MetLife serves 90 of the largest Fortune 100 companies. The firm was founded on March 24. MetLife is the largest life insurer in the United States.

Asia Pacific and Europe. The Jammu and Kashmir Bank. MetLife has more than 50. through its affiliates. Affiliated companies. as well as group insurance. MetLife is one of the fastest growing life insurance companies in the country. and was incorporated as a joint venture between MetLife International Private Limited and other private automobile and home insurance. For more information. Inc. The MetLife companies offer life insurance. retail banking and other financial services to individuals. annuities.. outside of India. M. 19 ISB&M (International School Of Business & Media) . reaches more than 70 million customers in the Americas. include the number one life insurer in the United States (based on life insura nce enforce). with over 140 years of experience and relationships with more than 90 of the top one hundred FORTUNE 500® companies.000 Financial Advisors. please visit www. who help customers achieve peace of mind across the length and breadth of the country.MetLife INSURANC (Trainin Report) 9 8 INTRODUCTION OF METLIFE (INDIA) MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife. Inc.. reinsurance and retirement and savings products and services to corporations and other institutions. Inc. It serves its customers by offering a range of innovative products to individuals and group customers at more than 600 locations through its bank partners and company -owned offices. Pallonji and Co.

our associates and our business partners. MetLife has committed to dri ing efforts that address sustainability. As our business is built on promises. we recogni e the tremendous importance of making yet another promise for the future by ensuring our world remains a healthy and ibrant place for the many generations to come through our businesses. reduce our carbon footprint and in est in entures that will ha e a positi e impact on the en ironment. we can and will make a difference by contributing to a growing.MetLife INSURANCE (Training Report) METLIFE AND THE ENVIRONMENT As an industry leader and a growing. global enterprise. global effort that will benefit e eryone today and in the future. 20 ISB&M (International School Of Business & Media) .

that shape the way we do business. integrity. we remain committed to the highest standards of ethics.MetLife INSURANC (Trainin Report) A @ ETHICS AND INTEGRITY For more than a century. We firmly believe that adherence to the highest standards of ethical conduct is the only acceptable way of doing business and is the personal responsibility of every one of our associates. 21 ISB&M (International School Of Business & Media) . We recognize that our ongoing success will spring from these values and. as we look to the future. while continuing to pursue a strategy of building financial freedom for everyone. We are committed to our compliance vision of having MetLife be the world's most trusted company. The company's well-known name and good reputation are reinforced by our pledge to deliver value and world class service to all who do business with us. integrity and trustworthiness. always keeping in mind what is best for our customers. These values are central to our efforts to achieve the MetLife vision ² to build financial freedom for everyone ² and emphasize our outward focus on customers and their needs. MetLife has built a reputation as a company that believes in fair dealing. The importance of ethics and compliance to the Company is demonstrated by the Company¶s extensive efforts and resources directed to this area. and trustworthiness. the fundamental building blocks of our long and successful history. Supporting these efforts are the MetLife core values of integrity and ho nesty. This defines who we are.

new ways of thinking and more innovative products.from our Work-Life solutions to our Enterprise-wide Diversity Council and Affinity Groups. detecting. Our commitment to diversity and inclusion makes MetLife a more competitive company and allows us to better serve our customers. It brings to MetLife fresh perspectives. Compliance & Fraud Hotline at 1800-462-6565 DIVERSITY MetLife's Diversity and Inclusion vision is to attract and retain the best talent and to foster an inclusive culture that leverages our diversity to drive growth and profitability wherever we do business in the global marketplace. But examples really tell the story. At MetLife. MetLife has implemented a program aimed at deterring. At MetLife. MetLife is an Equal Opportunity Employer . investigating and prosecuting insurance fraud. diversity is core to our business. It helps build relationships in the communities we serve and helps support our brand. and through this Diversity site. to how we're reaching Multicultural Markets.MetLife INSURANC (Trainin Report) C B COMPLIANCE AND FRAUD HOTLINE MetLife is committed to the highest standards of business conduct and expects the same from all people with whom we interact. embedded at all levels of our company with clear accountability for success. you'll learn more about how MetLife delivers on its commitment to Diversity . attract and retain the best talent. it also threatens the best interests of our customers because it raises the cost of insurance for everyone. Fraud is a major concern of everyone in the insurance industry and is of increasing concern to lawmakers. Not only is insurance fraud a crime in most states. 22 ISB&M (International School Of Business & Media) . and do business with the best companies and suppliers around the world. diversity is a key driver of business performance and creates lasting shareholder value.

MetLife's key resource. sincerity and fairness. It's all about People. D D "Coming into your own". Continuously creating and introducing new and original ideas and ways of doing things. realising the collecti e power of di erse workgroups.MetLife INSURANCE (Training Report) 23 ISB&M (International School Of Business & Media) D Operating with an intense dedication to managing monetary resources for strong business results. D D . MetLife will succeed because we are winning from within. Conducting all business endea ours with truth. Functioning producti ely in teams towards a common purpose. performing as a Leader to be really effecti e and successful by acting and making decisions independently to get results.

Legal & Risk and Company Secretary P.MetLife INSURANCE (Training Report) MANAGEMENT TEAM Rajesh Relan Managing Director MSVS Phanesh Appointed Actuary Sameer Bansal Director.Agency Nitish Asthana Director. S.Marketing KR Anil Kumar Director .Bancassurance & Business Partnerships Joydeep Mukherji Chief Financial Officer Balachander Sekhar Director . Sankaran Director ± Compliance & Internal Controls (C t 24 ISB&M (International School Of Business & Media) H I G FE .

MetLife INSURANCE (Training Report) KS Ragha an Chief Administrati e Officer Gaura Sharma Director .A DOG NAMED µSNOOPY 25 ISB&M (International School Of Business & Media) P P P P TAGLINE .Human Resources Peace of Mind.Customer Ser ice and Operations Shilpa Vaid Deputy Director. Guaranteed MASCOT.

George in 1987 as a Proprietorship for doing Broking business in Cochin Stock Exchange. C. the Bank recei ed the status of scheduled bank. In the year 1971. According to the extended Central laws of the state. Jammu & Kashmir Bank was defined as a go t. George and the Kerala State Industrial De elopment Corporation Ltd. Company as per the pro ision of Indian companies' act 1956. In 1994.J. Jammu and Kashmir Bank Limited was incorporated on 1st October. Today the bank has more than 500 branches across the country and has recently become a billion Dollar Company. a Joint Venture between Mr. In the following year.J.MetLife INSURANCE (Training Report) PARTNERS Geojit Securities was founded by Mr. C. (C t 26 ISB&M (International School Of Business & Media) T U S RQ . The Bank was the first in the country as a State owned bank. 1938 and commenced its business from 4th July. the company came up with an IPO and the shares were listed in arious Stock Exchanges in India in 1995. 1939 at in Kashmir (India). It was declared as "A" Class Bank by RBI in 1976. the business was taken o er by Geojit Securities Ltd.

The Bank has an ambitious business turno er target of Rs. 35000 Crores for the year 2008-09 with a branch expansion plan to reach the tally of 460 branches and additional ATMs to take the total to 180 by end-March 2009. customer centric progressi e bank with a national presence. dri en by the highest standards of corporate go ernance and guided by sound ethical alues. a leading pri ate sector Bank ha ing a network of 433 branches across 19 States and 2 Union Territories. All the 433 branches of the Bank are under the umbrella of core banking solution. In 1982. is more than 84 years old. All along. The Bank is a technology sa y. Visa enabled Debit Card with wide acceptability across the globe. Mutual Fund products of reputed companies.MetLife INSURANCE (Training Report) Mangalore±headquartered Karnataka Bank.50. Life and General Insurance ser ices. (C 27 ISB&M (International School Of Business & Media) Y ` X WV t . Later. The Bank offers a plethora of technology dri en products like Internet Banking facility. Kar y's strong work ethic and professional background le eraged with Information Technology enabled it to deli er quality to the indi idual. Demat ser ices. The Bank has a host of customer friendly deposit and ad ances products meeting the aried needs and preferences of its customers.000 offering auditing and taxation ser ices initially. a group of Hyderabad-based practicing Chartered Accountants started Kar y Consultants Limited with a capital of Rs. it forayed into the Registrar and Share Transfer acti ities and subsequently into financial ser ices.1.

Way2Wealth brings a wide range of product offerings from Fixed Income Securities. Life Insurance and Mutual Funds to Equity and Deri ati es (on the National Stock Exchange) for the con enience and benefit of it customers. Mini Muthoottu.MetLife INSURANCE (Training Report) Established in 1921. more understandable and profitable for the in estors. They also ha e a certificate of compliance with the requirements regarding prudential norms from the Reser e Bank of India. under the leadership of its Chairman. Roy M Mathew. Mr. Way2Wealth has o er 40 easily accessible in estment outlets spread across 20 major towns and cities in the country. Way2Wealth is a premier In estment Consultancy Firm that has been launched with the aim of making in esting simpler. 28 ISB&M (International School Of Business & Media) . Mini Muthoottu with an illustrious history of banking behind them today operates from 75 branches in Kerala and 5 in Bangalore. offers both the resources and capabilities like any national player coupled with indi iduali ed attention to its customers. All business concerns of Mini Muthoottu function under the strict guidelines set by the Department of Company Law Affairs and Reser e Bank of India.

MetLife INSURANC (Trainin Report) b a METLIFE PERFORMS IN OVER THE FOLLOWING STATES                        Andhra Pradesh Assam Bihar Chandigarh Chhattisgarh Delhi Goa Gujarat Haryana Jammu & Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Orissa Punjab Rajasthan Tamilnadu Tripura Uttar Pradesh Uttrakhand West Bengal 29 ISB&M (International School Of Business & Media) .

y To be recognized as being close and qualifie d by our customers. infrastructure and customer base. y To be the employer of choice to attract and retain the best talent in India. y To build long term value with our business partners by enhancing the proposition to their customers. 30 ISB&M (International School Of Business & Media) . y To leverage local knowledge. multi-product platform. y To adapt MetLife's best practice blueprints as a sound platform for profitable growth.MetLife INSURANC (Trainin Report) d c STRATEGIES y To achieve a top 5 market position in India through a multi -distribution. y To deliver high levels of shareholder return.

MetLife INSURANC (Trainin Report) f e PRODUCTS OF METLIFE INSURANCE Child Plan y y y y Met Bhavishya Met Junior Endowment Met Junior Money Back Met Magic Plus Retirement y Met Growth Super y Met Pension-Par y Met Pension Plus Savings y y y y Met Sukh Met Suvida Met Saral Met 100 Protection y y y y Met Suraksha met Suraksha TROP Met Suraksha Plus Met Mortgage Protector Plus 31 ISB&M (International School Of Business & Media) .

MetLife INSURANC (Trainin Report) h g Rural y Met Vishwas y Met Suvidha-Rural Investment y y y y y Met Easy Plus Met Wealth Plus Met Gold Plus Met Fortune Met Smart Life Health y Met Health Care Monthly Income y Met Monthly Income Plan y Met Monthly Income Plan 7 Pay 32 ISB&M (International School Of Business & Media) .

MetLife INSURANC (Trainin Report) p i INTRODUCTION OF THE PROCESS OF RECRUITMENT AND SELECTION OF AGENT 33 ISB&M (International School Of Business & Media) .

y How to recruits agent for MetLife. and your interviewing skills.MetLife INSURANC (Trainin Report) r q OBJECTIVES OF THE STUDY   y To understand the process of recruitment and selection of agent in MetLife.) 34 ISB&M (International School Of Business & Media) . The essentials of any job description are: y y y y y A brief description of your company Detailed outline of the tasks involved Qualifications and experience required Equipment and resources used to do the work Skills required using them (Contd. The fact is. and use source of recruitment. Recruiting the top talent for a job takes time and you have to attract quality candidates who have the knowledge and skills needed to help your company grow. especially with private player. y To know about the view of general public about the job of agent. your success with recruitment depends on how well you prepare your job ad. y Why people are not willing to work with as an agent. you want to be sure that your potential candidate truly understands the job. The clearer you are with the task description. working conditions and adva ntages. MEANING OF RECRUITMENT Finding the right people is a make -or-break factor for success in business today. Prepare a job ad that works to start. the less time you will waste examining and rejecting applications.

In fact. knowledge and achievemen or simply telling your employees. screen a numb er of candidates. Recruiting online such as monster. Advertising is a toss of the is a less expensive strategy but generates fewer candidates. teambuilding and communications skills). you want to be perceived as an attractive employer in a competitive market. 35 ISB&M (International School Of Business & Media) . and posting your job openings on recruitment sites. Ultimately. The employment advisors look at your Using the Internet for recruiting usually involves regular visits to specialized recruitment sites. Employment agencies cost more but generally provide a good range of candidates. and jobboom. If it goes well. it's a cos tly investment yielding few results. vacation. friends and colleagues about a job opening.g.MetLife INSURANC (Trainin Report) t s However. or international pool. This is a preferred method with companies that have a finder's fee program for their employees. Find the right recruitment vehicle choose the vehicle that best works for your company.g. you should also include work benefits (e. travel and perks). These can provide inexpensive. national.g.. Bear in mind that the largest employment agencies do not necessarily offer the best choice of candidates. The advantage is that you already know something about your recruiters and their skills. joining newsgroups. Make sure to factor in the time it takes to go through a large number of resumes. If not. worldwide access to employees. it can help you find ideal candidates in a regional. general working conditions (e.. workopolis. outside work) and the specific traits required (e. and only send you the applications that meet your requirements. Word of mouth. scheduling. electronic publications and on your own Web site. depending on your budget and resources. There are numerous agencies that specialize in recruitment in specific sectors. 65% of job seekers now have access to these types of services.

This will enable you to test their aptitude for teamwork. This will give you the chance to gauge the candidates' self -confidence. This will enable you to evaluate the candidates' knowledge. They can get the interview off track or annoy people who want to keep their work and private lives separate. Beware of asking questions about personal interests. y Ask the candidates about their ambitions and plans to ensure they fit your company profile. creativity and problem-solving skills. y Ask the candidates to describe some difficult situations encountered in previous jobs and to explain the way in which they were resolved. Here are a few points to consider when structuring an interview: y Make a list in advance of the points for discussion and corresponding questions. y Present the candidates with a situation they could face on the job and ask them how they would react. Remember that you have to decide between the candidates: you coul d create a point system or analysis grid for comparing their strengths and weaknesses. 36 ISB&M (International School Of Business & Media) . it should be structured to bring out all the desired competencies and aptitudes. y Ask the candidates to describe a difficult situation involving colleagues and how it was resolved.MetLife INSURANC (Trainin Report) v u After recruitment the next part is selection of best candidates. skills and work methods. MAKE THE INTERVIEW DELIVER Since the purpose of an interview is to identify and verify the candidate's potential.

He is. an authorized salesman for insurance and needs a license.´ consultants´ etc. 37 ISB&M (International School Of Business & Media) . Another on whose behalf the agent acts is called the principal in this case. including business relating to the continuance. An agent is one who acts on behalf of another. An ambassador is an agent of his country. Some insurers designate their agents as advisers´. when he argues the case in court.MetLife INSURANC (Trainin Report) x w DEFINITION OF AGENT According to section 182 of Indian contracts Act. The agent represents the principal and acts on hi s behalf. Some insurance agents may acquire that status. In the insurance industry. the term agent is ordinarily applied to a person engaged by the insurer to procure new business. an agent is a person employed to do any act for another or to represent another in dealing with a third person. in consideration of his soliciting of procuring insurance business. renewal or revival of policies of insurance. The lawyer is the agent of the client. for all purposes. He would be knowledgeable enough as a person to be approached for advice or con sultation. The insurance company is the principal in this case. as if they are independent advisor or consultant would not be appointed by an insurance company. The insurance Act definers and insurance agent as one who is licensed under Section 42 of that Act and is paid by way of commission or otherwise. All insurance agents should strive to attain that status.

1938 lays down that an insurance agent must possess a license under Section 42 of tha t Act. in each insurance company. licenses will not be given if the person is (a) minor. (g) The fee for a license is Rs. (Contd. In terms of the Insurance Act.MetLife INSURANC (Trainin Report) € y PROCEDURE FOR BECOMING AN AGENT y The insurance Act. A license is granted for 3 years. (c) found guilty of criminal misappropriation or criminal misappropriation or criminal breach of trust or cheating or forgery or an abetment of or attempt to commit any such offence (d) found guilty of or knowingly participation in or conniving at any fraud. (e) not possessing the requisite qualifications and specified training. dishonesty or misrepresentation against an insurer or an insured. (f) Found violating the code of conduct as specified in the regulations.) 38 ISB&M (International School Of Business & Media) . It may be renewed after 3 years and again valid for 3 years.825 for individual. The IRDA has authorized designated persons. to issue the licenses on behalf of the IRDA. (b) found to be of unsound mind. The license is to be issued by the IRDA.

then at least passed the 10th standard. the applicant should have completed at least 75 hours practical training in life and general insurance business.MetLife INSURANC (Trainin Report) y A license issued by the IRDA may be to act as an agent for a life insurer. form an institution. as the case may b e. IN the case of a person wanting to become a composite insurance agent. The Qualifications necessary before a license can be given are that the person must be a) Not a minor.000 or more. c) Have undergone practical training for at least 50 hours in life or general insurance business. approved and notified by the IRDA. if he is to be appointed in a place with a population of 5. as well as for a general insurer.) . No agent is allowed to work for more than one life insurer or more than one general insurer. which may be spread over six to eight weeks. d) Have passed the pre-recruitment examination conducted by the insurance institute of India or any other examination body authorized by the IRDA. b) Have passed at least the 12th standar d or equivalent examination. 39 ISB&M (International School Of Business & Media) ‚  (Contd.

make arrangements for trainin g. for appearing in the prescribed examinations. Applications for renewal have to make at least thirty days before the expiry of the license. the agent should have been an agent with that insurer for at least (1) five years and policies for at least Rs 50. to be eligible for this.250.000 are in force one year before termination of agency or. can be cancelled whenever the person acquires a disqualification. along either the renewal fee of Rs. If the application is not made at least thirty days before the expiry. Insures who select agents for appointment. The commission will be limited to a rate not exce eding 4%. NOTE The insurance Act provides. it would be normally being refused.100 is payable . In Section 44. but is made before the date of expiry of license. Prior to renewal of the license. This commission will be payable to the heirs of the agent after the agent's death. and obtaining the license. (2) 10 years. If the application is made after the date of expiry.MetLife INSURANC (Trainin Report) „ ƒ The license once issued. an additional fee of Rs. the agent should have completed at least 25 hours practical training in life or general insurance business or at least 50 hours practical training in life and general insurance business in the case of a composite insurance agent. 40 ISB&M (International School Of Business & Media) . for payment of commission on renewal premium even after termination of the agency.

 Complete the formalities: . medical examination. nomination and other necessary alterations. 41 ISB&M (International School Of Business & Media) . High quality training & Support to improve productivit y. Career Growth. Best in class & competitive products.  Facilitate quick settlement of claims. Compensation amongst the best. Be your own boss.paper work.MetLife INSURANC (Trainin Report) † … FUNCTION OF AN AGENT  Understanding the prospect's needs and persuade him to buy a plan of life insurance that suits his interests best.  Not to induce prospects to submit wrong information.  Be totally honest with both the prospect and the insurer.  Keep in touch to ensure that changing circumstances are reflected in the arrangements relating to premium payments. CAREER WITH METLIFE          Opportunity to earn unlimited income. Payout structured to facilitate your cash flows better. which are necessary to get the policy expeditiously. Pension for life. Club member benefits.

MetLife INSURANC (Trainin Report) ˆ ‡ RECRUITMENT PROCESS Develop a Profile Develop sources of recruitment Approaching the Targeted recruits Initial screening and Interviews Reality check 42 ISB&M (International School Of Business & Media) .

MetLife INSURANC (Trainin Report)  ‰ SOURCES OF RECRUITMENT Controlled Uncontrolled Natural Market Job Ads/Inserts Centre of Influence Placement Consultants Presentation/Seminar A ents gets Agents Cold Prospecting 43 ISB&M (International School Of Business & Media) ‘ Data Base Primary Secondary .

People know through spouse. People known through social groups People known through public service.  People who are known to you and are willing to help you. political.  People who have faith in your leadership. 44 ISB&M (International School Of Business & Media) . religious or business angulations  Usually a respected individual with influence over the people with him/her is in contact.  People who have a big circle of relationships: like secretary in societies.  A centre of influence is a person who is in contact with many people through social.MetLife INSURANC (Training Report) ’ CONTROLLED SOURCES NATURAL MARKET     Your family Your friends People at job/business Neighbours EXTENDED NATURAL MARKET         The following are sources of names: People know through children. People you do business with. CENTRE OF INFLUNCE  People with influence and prestige. People know through hobbies/ games. other member of society believe and faith on them. Friends of friends. president of an association.  People who have contacts with the class of people you want to deals with.

in which he called for the reader to phone him during a specified 2 to 4 hours period on Monday or Sunday morning. Example: Navjeevan Sharma who is a relationship officer in MetLife put an ad in the newspaper.MetLife INSURANC (Training Report) “ UNCONTROLLED SOURCES Job Ads/Inserts This program should be on regular long range basis. Placement consultants MOA can recruit a placement consultant or register himself in internet job search sites to get list of prospects. (Contd. OR  MetLife participate in the job fairs and then short list prospects and then look for further opportunities for them. Seminars/Job Fairs  Manager of agency can also organized seminars at management institutes and colleges. From those who called Navjeevan Sharma was able to eliminate more misfits (who are not qualified) and arrange for two to six personal visits.) 45 ISB&M (International School Of Business & Media) .

46 ISB&M (International School Of Business & Media) . Database  Primary data: Direct collection of data of from the source of information.  MOA and telecaller can use the directories of various b usiness and social organizations. technology including personal interviewing. survey etc.  Secondary Data: Indirect collection of data from sources can be purchased from the open market and various kind of database is available such as telephone databases of various surveys.MetLife INSURANC (Training Report) ” Cold Prospecting  MOA can use the telephone directory.

Experience and current designation. hungry for recognition. Leadership qualities. challenges. Ambitious. Family income. Social and amiable. Occupation of parent. For how many years he is living in the city.MetLife INSURANC (Training Report) • POINT TO BE NOTED WHILE RECRUITING THE AGENTS y y y y y y y y y y y Mature and responsible family person. SOURCES FOR RECRUITMENT AND SELECTION OF AGENT USED DURING TRAINING Natural Market Secondary Data (Telephone Directory) Market Survey 47 ISB&M (International School Of Business & Media) . Greedy person. Occupation. Any experience in life insurance sector.

MetLife INSURANC (Training Report)


Hello sir, I am Sanu Gupta from MetLife. I want your few minute to speak. Sir, MetLife is going to expend the Business by recruiting quality people and offering them the potential of a very rewarding career opportunity. We have acquired your business card and we are aware of the company you work for and you are one of the selec tive person with whom our company want to concern. So I would like to meet you for coffee to explain the exciting and rewarding opportunity. It may have for you in terms of career compensation and support. (Excellent I look forward to meeting you please Ma y I have your address and I will confirm our meeting in writing.) OR (According to your convenience will you please tell me when and where we can meet?) Thank You Sir.

Step1. Documents Required
y y y y y y y y

Age proof. Address proof. Photo. Education proof. Q score sheet. Agency application. Form VA. Fill NAAF.


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MetLife INSURANC (Training Report)

Step2. Interview section During the interview the senior manager/MOA asked following question to the candidate to judge his ability and knowledge.
y y y y y y y

Qualification. Present occupation. Knowledge or experience in insurance sector Tenor of stay in the town. Number of family member. Household income. Occupation of parent.

If selected then the senior manager/MOA approve the application. The managers take the help of scoring Mechanism. Scoring Mechanism was filled at the time of apply.

Step3. Training 50 Hours Training and also provide a text book (IC -33 life insurance) for prerecruitment Examination for Life Insurance Agents, which is based on syllabus prescribed by insurance Regulatory & Development Authority. IRDA for short, has laid down that those who wish to become insurance agents will be given licenses only after they complete a course of study, training and pass an examination prescribed by it. During this training the knowledge about the entire essential concept related to life insurance is provided to agent. Insurers will have different practices and offer different benefits in their plans. All of them will be based on these concepts. The details of the practices and the plans of each insurer will have to be learnt from the respective insures.



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MetLife INSURANC (Training Report)

Step4. During training following things will be taught
y y y y y y y y y y y y y

What is insurance Principles of life Assurance Premiums and Bonuses Life Insurance products Underwriting Insurance Documents Policy conditions Claims Linked life insurance products Insurance agency Laws and Regulations IRDA Regulation 2000. IRDA Regulation 2002.

Step5. Examination and Code Examination is the second last part of the recruitment and selection process. It include one hour test under, which contain 50 objective questions, one marks each, and Pass marks are 25. There are two method of examination.
y Online y Manual

In case of online the result is declared on the spot and in the case of manual result is declared within one month. After clearing the exam, ULIP training of two days will be given to the advisor about the product of company and then agency code is generated.


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MetLife INSURANC (Training Report) ™ OBJEC TIVES AND RESEARCH METHODOLOGY 51 ISB&M (International School Of Business & Media) .

There should be a good research plan for conducting research. y How to recruits agent for MetLife. (Contd. RESEARCH METHODOLOGY Research Methodology is the investigation of specific problem in detail.MetLife INSURANC (Training Report) d OBJECTIVES OF THE STUDY y To understand the process of recruitment and selection of agent in MetLife. No research can be done without data collection. y y y y Defining the problem Defining the sampling plan Collection of data Analyze and interpretation Defining the problem Defining the research problem is first necessary step for any research. Here research problem is to know wiliness of general public to work as an agent with private player or MetLife. At first problem is defined carefully for conducting research. y To know about the view of general public about the job of agent.) 52 ISB&M (International School Of Business & Media) . y Why people are not willing to work with as an agent. especially with private player. This work should be done carefully. After all this analyze is made for getting solution for problem.

A) Sampling Unit: I have completed my survey in NORTH KOLKATA.MetLife INSURANC (Training Report) Sampling plan The sampling plan calls for three decisions. Thus. C) Contract methods I have conducted the respondent through personal interviews . The sample was drawn from shopkeepers. I have tabulated the collected data & developed frequency distributions. 53 ISB&M (International School Of Business & Media) e . Questionnaire consisting of a set of questions made to filled by various respondents. Analyze the Information The next step is to extract the pertinent finding from the collected data. The selection of the respondent was done on the basis of simple random sampling. Collecting the Information After this. frequencies & percentages were to redder impact of the study. B) Sample Size: The selection of 20 respondents. Presentations of Findings This was the last stop of the survey. Research Instrument A close friend questionnaire was constructed for my survey. Thus the whole data was grouped aspect wise and was presented in tab ular from. I have collected the information from the respondent with the help of questionnaire.

You will in turn receive 15-20 % margin on sale. 54 ISB&M (International School Of Business & Media) f Address:- . Shop Type: . MetLife is introducing Insurance to every part of Kolkata retailers and would like to give you an opportunity to earn and setup a new income which can give you 15-20% margin on an average. E. manager form MetLife will go.(Mobile stores.000.g.MetLife INSURANC (Training Report) DATA PRESENTAION AND INTERPRETATION Name: Location:Mobile no. Chemist etc. Post this. explain the product & close he will sale for you. General store. if a policy is sold by MetLife manager for 10.000 you will receive 2. In this business you only have to contact your known people or regular customers and their references to introduce MetLife¶s product and get an appointment. Please specify Script MetLife has expanded into new territories of business and they now offer the best in class insurance products.

0% 0. (C t . 6 people said that they can spend ½ hour for this acti ity daily. 80% no y Only 20% shopkeepers were interested in taking up this business opportunity with MetLife.75% 2 to 4 4 to 5 55 ISB&M (International School Of Business & Media) j k i hg y From the abo e 8 people. No 0. 0% 8. (8 shopkeeper were interested in this acti ity) 2) How much time can you dedicate per day for this acti ity (For getting Appointments) ½ hr 1-2 hrs 3-h hrs 5 hrs or more 0% 0% 2.20% yes 32.MetLife INSURANCE (Training Report) 1) Would you be interested in taking up this business opportunity with MetLife Yes or. y 2 said that they can spend ½ to 2 hours for this acti ity.25% half hour 1/2 to 2 6.

No 0. 20% no yes 32. (C o p n ml t 56 ISB&M (International School Of Business & Media) . y 85% of shopkeepers ha e no experience in the field of life insurance. 0% 6.MetLife INSURANCE (Training Report) 3) Do you ha e any knowledge of or experience in Insurance Yes or. 0% 8. y 20% of shopkeeper said that they ha e no knowledge about insurance. 0% 0. 80% y 80% of shopkeeper said that they ha e knowledge about insurance. 15% yes 34. 0% 0. No 0. 4) Do you ha e Experience as an agent Yes or. 85% no y 15% of shopkeepers ha e experience in the field of life insurance.

50% 2. No 0. 10% Yes 36. 0% 0. 57 ISB&M (International School Of Business & Media) . then please specify the name of the company. 17% 3. 5) Can you spare 1/2 day on training to understand to product and how can introduce it to your customer Yes or. 0% 4. 90% no 10 % of shopkeepers were interesting to spare 1/2 day on training to understand to product. Ltd. 0. 0% 1. 33% LIC HDFC ICICI y Out of 6 people 33%(3) of shopkeeper working with LIC y 33% (2) of shopkeeper working with HDFC Standard Life insurance y 33% (1) of shopkeeper working with ICICI Prudential Life Insurance Co.MetLife INSURANCE (Training Report) If yes.

No (Contd. b. Chemist etc. Do you have any knowledge of or experience in Insurance? Knowledge: a. b. Please specify QUESTIONNAIRE 1. Would you be interested in taking up this business opportunity with MetLife? a. d. Address:- Shop Type: . c.(Mobile stores. General store. Yes No 2. Yes b.MetLife INSURANC (Training Report) q Name: Location:Mobile no.) 58 ISB&M (International School Of Business & Media) . ½ hr 1-2 hrs 3-h hrs 5 hrs or more 3. How much time can you dedicate per day for this activity? (For getting Appointments) a.

How many people do you know in this city a. No 2. Can you spare ½ day on training to understand the product and how can introduce it to your customer a. then please specify the name of the company. No If yes. Under 50 51-100 101-300 301-600 Abo e 600 59 ISB&M (International School Of Business & Media) . Yes b. 1.MetLife INSURANCE (Training Report) Experience: a. Yes b. d. e. b. c.

 Most of people say that this job affects upon their social relation with other and also effect upon their business.MetLife INSURANC (Training Report) LIMITATIONS  I didn¶t get complete feed from the shopkeepers about the question as they are busy in their work and had less time to fill questioned. FINDINGS Why people are not ready to work with private players in life insurance? OR Why people are not ready to work as an agent in any company?  In these days LIC created a very well image in the mind of General public because it is semi Government Company and also an oldest company.  During the training period we felt that most of people who are alr eady working in insurance sector think that it is easy to sell the product of LIC than to sell the product of other life insurance company.  Limited money available for project. In short most people of Indian believe upon the LIC only.  Most of people believe that private insurance companies carried out fraud activity that¶s why they never believe upon the private players. 60 ISB&M (International School Of Business & Media) r .  Some people said that only gr eedy people like to work in insurance sector.  Because of three days compulsory training.  Time was the major constraint for me to understand the long process of recruitment and selection.  Sincerity of answering the questions cannot be judged.  People think that it is a time consuming activity and also required huge market skills.

61 ISB&M (International School Of Business & Media) . I concluding the whole story it can be said that people are much more aware about the aspects of life insurance and also have knowledge about the role and act of agent but mostly people unwilling to work as life insurance agent and mostly people prefer to work with LIC because it is a semi government corporation. there is throat cut competition in the market of life insurance that brand service which adopt new strategies for sales.MetLife INSURANC (Training Report) s CONCLUSION In India.

y MetLife must organize more and more semina rs and also participate in the job trade fairs to find out more candidates. y The duration of the process of recruitment and selection is too long (one and half month). as it help in enhance its goodwill and more people are willing to work with reputed companies. 62 ISB&M (International School Of Business & Media) . y Increase the commission of agents. y A special function must organize time to time in which the special prizes distribute among those agent who perform well. y Better career opportunity must be provided to an adviser. such as on role job. y Many other extra facilities must be provide to agent to attract them such local and foreign trips. through proper advertisement it become easy to sell the product. promotion etc.MetLife INSURANC (Training Report) t SUGGESTIONS y MetLife must give more advertisements on electronic media and print media. y Duration of training must be reducing as in these day people have no extra time. y Fees charged by companies from candidate for IRDA exam and training should reduce. as it increases the scope of market of its agent. so there is an urgent need to reduce the duration of this period. special price on achieving a target. y Reduce the minimum premium amount it will help company to attract the agent of other company. y An insurance company must work with honesty to win the confident of its agent and general public. y Company must relic to candidate or other people that they are doing a social service for the welfare of society. open bank account at free of cost. during this process mostly candidate loss there interest.

We Indian are "natural savers" Indians save the maximum in the world.MetLife INSURANC (Training Report) u WEBLIOGRAPHY www. Those 'insured' are 'underinsured'. 63 ISB&M (International School Of Business & Media) .org/wiki/Metlife THE OPPORTUNITY About 2/3 of the Indian population is 'insurable' High % of population is uninsured or

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